Emulate LPT1 Dongle for VM?

I have an old CNC machining program that runs in DOS or on Windows 98. It uses a parallel port dongle for security. To make a long story short, I need to run this program on a virtual machine now, which doesn't seem to see the parallel port dongle. I need to emulate the dongle or crack the program so that it runs without the dongle on a virtual W95 machine.
The manufacturer of the software no longer offers support for this very old program, so I can't even get the dongle converted to USB (which would also require some re-writing in the program for where to look for the dongle).
It is a Maim IC Dallas dongle.Can anybody help me?